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AK Steel (AKS) Stock Up, Credit Suisse Increases Price Target

NEW YORK (TheStreet) -- Shares of AK Steel (AKS) are rising 2.04% to $5.51 this afternoon as Credit Suisse increases its price target on the stock to $8 from $7 in a note cited by Barron's.

"Over the past several years domestic integrated steel mills have made substantive improvements to their cost base through asset optimization, overhead cost reductions, closure of inefficient or underutilized assets, and raw material cost reduction," the firm said.

Credit Suisse added that these benefits have been largely obscured by "weak utilization rates."

"We believe 2016 second quarter will mark a...